Top Cheap Cryptocurrencies To Buy In 2024

Top Cheap Cryptocurrencies To Buy In 2024

Cryptocurrencies have catapulted from the fringes of finance to become a hot topic of discussion among speculative investors and even mainstream financial media. Outlets like CNBC regularly update viewers on bitcoin's price movements, signifying the widespread recognition of cryptocurrency. Yet, bitcoin is just the tip of the iceberg. The crypto universe is vast, offering a plethora of alternatives to investors looking to diversify beyond the market leaders. Despite enduring a prolonged period of downturn, known colloquially as the crypto winter, there's a growing sentiment that 2024 may herald a significant turnaround for the cryptocurrency market.

For seasoned investors, navigating the volatile waves of the crypto market is part of the thrill and challenge. However, newcomers seeking to carve out their own success stories are often advised to start with more accessible, less expensive cryptocurrencies. This guide aims to shed light on some of the most promising, friendly cryptocurrencies to consider in 2024.

In light of the current bear market, many are exploring alternative investments to diversify their portfolios, with cryptocurrency emerging as a popular choice. While bitcoin's meteoric rise has captured much attention, it's important to remember that it's not the only game in town.

Together, these perspectives underscore the importance of strategic diversification and due diligence in the ever-evolving world of cryptocurrency. Whether you're a veteran investor or just starting, the opportunities within the crypto market are vast and varied, offering something for every risk appetite and investment strategy.

How Do Cryptocurrency Prices Work?

Cryptocurrencies serve dual purposes; they can act as digital currencies for transactions in some outlets and are also seen by many as viable investment assets. The valuation of these digital currencies, much like traditional securities, is influenced by various factors including supply and demand dynamics, as well as market competition. Media coverage can significantly sway a cryptocurrency's value, with investor sentiment about its potential future worth causing price fluctuations.

Certain cryptocurrencies are designed with a capped maximum supply. This limitation means that once the predetermined number of coins is minted, no further coins can be produced. This scarcity can lead to an increase in value as the supply tightens.

Taking Bitcoin (BTC) as an instance, it experienced its peak price near $69,000 per coin in 2021, buoyed by optimistic investor outlook, heightened demand, and its growing acceptance as a payment method for various transactions. Nevertheless, its value has experienced a steep decline from that peak. As of September 22, 2022, Bitcoin's trading price was around $19,390, and it boasted a market capitalization of $371 billion, reflecting the aggregate value of all mined Bitcoins.

Ethereum (ETH), another leading cryptocurrency, was priced at $1,332 per coin with a market capitalization of $161 billion on the same date, showcasing its significant presence in the cryptocurrency market.

Cheap Cryptocurrencies to Buy or Use

If you're looking to dive into cryptocurrency investments, you have the option to invest in well-known cryptocurrencies or opt for more affordable, lesser-known altcoins, which allow your U.S. dollars (USD) to stretch further. Below, we'll explore the most cost-effective cryptocurrencies available on the market today.


Before 2020, XRP was considered one of the top cryptocurrencies for investment. Its decline was significantly influenced by negative publicity, primarily stemming from a lawsuit filed by the SEC. This legal challenge cast a shadow over XRP, leading many to believe that the cryptocurrency could not recover from this setback.

However, the situation began to shift positively after XRP's notable victory against the SEC. This win not only helped in rehabilitating XRP's image but also had a positive impact on the perception of the cryptocurrency market as a whole. On the technical front, XRP's infrastructure facilitates transactions that are both inexpensive and swift. This technology has gained acceptance among major banks and financial institutions, highlighting its practical utility and potential for broader adoption.


Despite the proliferation of meme coins in the cryptocurrency market, the original meme coin continues to stand out as the most popular. With a market capitalization surpassing $10 billion, it remains a dominant player among digital currencies.

Dogecoin has undoubtedly captured the essence of the cryptocurrency movement, accurately foreseeing its expansive growth over the years. It boasts a community of over four million holders, making it one of the most substantial in the cryptocurrency world. This demonstrates a keen investor interest in meme coins. Additionally, the Dogecoin subreddit on Reddit has attracted more than 2.4 million subscribers, further testament to its widespread appeal.

The coin has also seen significant support from celebrities and public figures, enhancing its visibility and appeal. Notably, Elon Musk's endorsement in 2021 played a significant role in boosting its popularity. Other celebrities, including Gene Simmons and Snoop Dogg, have also shown their support for Dogecoin, contributing to its status as a leading figure in the meme coin category.


Chainlink operates as a pioneering protocol within the realm of Decentralized Oracle Networks (DONs), aiming to seamlessly integrate off-chain data sources with on-chain blockchain systems. This integration is achieved through the development of sophisticated oracles that facilitate communication between various blockchains and external data sources via APIs, providing up-to-date price information directly to the blockchain.

This technology is especially crucial for the decentralized finance (DeFi) sector, enabling robust cross-chain interactions and delivering precise price data to a myriad of protocols. When engaging in token trades on a decentralized exchange, the likelihood is high that the price information is being accurately relayed by a Chainlink oracle, underscoring the protocol's integral role in ensuring the smooth operation of DeFi platforms.


Uniswap has established itself as a leading decentralized exchange, making its mark early in the cryptocurrency sphere. It has garnered a strong reputation among traders, maintaining a significant presence in the market. The platform facilitates direct peer-to-peer transactions with ERC20 tokens, bypassing the need for intermediaries. Thanks to the innovative use of smart contracts, Uniswap has the potential to revolutionize the process of buying, selling, and investing in digital assets, offering a more autonomous and efficient way to interact with cryptocurrency.


Cardano stands at the forefront of blockchain innovation, offering unparalleled security and sustainability for decentralized applications, systems, and communities. Co-founded by Charles Hoskinson, the blockchain research and engineering firm Input Output Hong Kong (IOHK) is pivotal in the development of Cardano. Operating out of Hong Kong, IOHK collaborates closely with the Cardano Foundation and Emurgo, a Japanese software company, to advance the Cardano project.

The network's ability to decentralize, scale, and maintain high security is largely attributed to its adoption of the Ouroboros protocol. This protocol is a cornerstone in ensuring Cardano's robust security framework and scalability. In its quest for continuous improvement and expansion, Cardano is undergoing several hard forks, mirroring Ethereum's approach to upgrading its network. These updates are instrumental in broadening Cardano's functionality and potential as a leading blockchain platform.


The launch of Polygon 2.0 marks a significant evolution in blockchain technology, introducing a network of Layer 2 (L2) chains powered by Zero-Knowledge Proofs (ZKPs). This development promises to achieve infinite scalability and unified liquidity across the platform. ZKPs play a crucial role in this ecosystem by validating the correctness of transactions without revealing any specific details about them. This approach enhances privacy and security while simultaneously reducing the computational resources required for transaction verification. Polygon 2.0's innovative use of ZK technology represents a leap forward in making blockchain networks more efficient, scalable, and private.


Solana stands as a high-performance blockchain platform, engineered from the outset to cater to the demands of decentralized applications and cryptocurrencies by facilitating fast, secure, and efficient transaction processing. This innovative platform is particularly suited for developers looking to build scalable applications thanks to its high throughput and low latency.

The Solana blockchain utilizes its native cryptocurrency to incentivize network participation through staking and to defray transaction fees, thereby ensuring the network's sustainability and bolstering its security.

Following the collapse of the FTX cryptocurrency exchange in November 2022, the value of Solana's coin witnessed a sharp decline, losing over 50% of its value. Nevertheless, the cryptocurrency has shown resilience and capability for recovery, notably rebounding from $8.39 on December 29 to a peak of $26.93 by February 20, 2023. This recovery was further bolstered by a surge in interest coinciding with the announcement of Solana's foray into mobile technology with the introduction of a Solana-powered smartphone, highlighting the ecosystem's adaptability and potential for growth amidst challenges.


1inch is a decentralized exchange (DEX) aggregator designed to optimize cryptocurrency trading by scanning multiple exchanges to find the most favorable trading prices available. The platform utilizes smart contract technology to combine liquidity from various DEXs into one comprehensive and easy-to-use interface, allowing users to get better exchange rates than they would from a single DEX.

The 1inch network uses its own governance token, 1INCH, which enables holders to vote on protocol changes, demonstrating a commitment to decentralized governance. This token also plays a role in incentivizing liquidity provision to the platform's liquidity pools.

1inch aims to reduce the complexity and costs of trading on DEXs by offering users a streamlined and efficient trading experience. By aggregating offers from multiple sources, it minimizes slippage on large orders, reduces transaction fees, and enhances the overall efficiency of the decentralized finance (DeFi) ecosystem.

Tips For Buying Crypto

If you're considering entering the world of cryptocurrency trading, it's crucial to start with a set of guidelines to enhance your safety and security in the market. Here are some essential tips and precautions:

  • Emphasize security: Cryptocurrency accounts rely on public and private keys for security. Losing these keys means losing your investment, and due to the unregulated nature of cryptocurrency, there's no recourse for resetting your keys and recovering your funds.
  • Use cold storage for your coins: By moving your crypto wallet to a physical device and keeping it offline, you safeguard it against online hacking attempts, making your digital assets virtually inaccessible to cyber thieves.
  • Secure your devices: Ensuring the security of your phone and computer is paramount. Hackers gaining access to your devices can lead to stolen cryptocurrency. Employing a VPN for public Wi-Fi, using anti-virus software, and activating two-factor authentication are effective ways to enhance your device security.
  • Know what you're investing in: Avoid the herd mentality of buying cryptocurrencies just because others are. Before making significant investments, thoroughly understand the asset and how it fits into your overall investment strategy.
  • Diversify your portfolio: Just like with traditional investments, diversification within your crypto holdings is vital. This approach helps mitigate risks if a particular cryptocurrency fails and increases your chances of investing in a potentially high-value coin.
  • Invest responsibly: The allure of cryptocurrencies should not overshadow your financial responsibilities. Ensure you're still contributing to retirement accounts and maintaining an emergency fund alongside your crypto investments.
  • Implement stop losses: Given the volatile nature of the crypto market, setting up stop losses can protect you from significant losses, especially when you're not actively monitoring your account.
  • Research before buying: Low-priced cryptocurrencies might be appealing, but they're not always valuable investments. Thorough research and consulting reputable investment advice are essential to distinguish between a coin with growth potential and one that's likely to underperform.

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